MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch Aug 23
VEGOILS-Market Factors to Watch Aug 23
23/08/2016 (Reuters) – The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in over a week on Monday, tracking rival oils and as expectations of a pick up in output offset improving export demand.
* U.S. soybean futures rose on Monday, with the benchmark November contract reaching its highest in a month on strong export demand for U.S. supplies, traders said.
* Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count.
MARKET NEWS
* Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise U.S. interest rates.
RELATED
> Ohio corn yield outlook seen about flat with 2015 -tour
> Risk of crop-damaging frost weakens in Brazil - Somar
> Scouts find subpar corn yields, big soy pod counts in South Dakota
> Depressed prices for U.S. baby pigs signal troubled hog market
> Russian wheat prices rise for fourth week
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0036 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5494 -40.00 5470 5518 289040
CHINA SOYOIL JAN7 6372 -20.00 6320 6390 143022
CBOT SOY OIL DEC6 34.22 +4.80 34.17 34.26 802
INDIA PALM OIL AUG6 567.70 +4.80 556.50 567.8 1807
INDIA SOYOIL SEP6 660.5 -3.35 657.5 662.9 46590
NYMEX CRUDE OCT6 47.20 -0.21 47.16 47.46 7962
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in over a week on Monday, tracking rival oils and as expectations of a pick up in output offset improving export demand.
* U.S. soybean futures rose on Monday, with the benchmark November contract reaching its highest in a month on strong export demand for U.S. supplies, traders said.
* Oil settled down more than 3 percent on Monday, retreating from last week's two-month highs, on worries about burgeoning Chinese fuel exports, more Iraqi and Nigerian crude shipments and a rising U.S. oil rig count.
MARKET NEWS
* Oil prices fell more than 3 percent on supply worries, while U.S. Treasuries rose and stocks flattened on Monday as markets awaited more clarity later this week from the Federal Reserve on when it might raise U.S. interest rates.
RELATED
> Ohio corn yield outlook seen about flat with 2015 -tour
> Risk of crop-damaging frost weakens in Brazil - Somar
> Scouts find subpar corn yields, big soy pod counts in South Dakota
> Depressed prices for U.S. baby pigs signal troubled hog market
> Russian wheat prices rise for fourth week
DATA/EVENTS
> Cargo surveyor ITS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
> Cargo surveyor SGS releases Malaysia's Aug 1-25 palm oil export data on Aug 25.
Palm, soy and crude oil prices at 0036 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP6 0 +0.00 0 0 0
MY PALM OIL OCT6 0 +0.00 0 0 0
MY PALM OIL NOV6 0 +0.00 0 0 0
CHINA PALM OLEIN JAN7 5494 -40.00 5470 5518 289040
CHINA SOYOIL JAN7 6372 -20.00 6320 6390 143022
CBOT SOY OIL DEC6 34.22 +4.80 34.17 34.26 802
INDIA PALM OIL AUG6 567.70 +4.80 556.50 567.8 1807
INDIA SOYOIL SEP6 660.5 -3.35 657.5 662.9 46590
NYMEX CRUDE OCT6 47.20 -0.21 47.16 47.46 7962
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel